Wheat News - 16 Sep 2024

Italy - Italian Soft Wheat Production Falls 8% To 2.85 Million Tons
Poland - Flooding In Poland Devastates Crops And Livestock Farms
Poland - Grain Prices Rise By 20-25 Pln, Exports Down Nearly 1 Million Tons
Russia - Russian Wheat Prices Steady At $216, Exports 4.7-5.0 Million
Scotland - Over 80% Of Scots Wheat Harvest Still Uncut
Spain - Cereal Prices Rise: Soft Wheat €222.06/Ton, Corn €226.35/Ton
UK - Uk Beer Supply Threatened By 20% Wheat Crop Yield Drop
Ukraine - Prometey Loses 7 Silos And 2,000 Hectares Amid War
Ukraine - Ukraine Exports 8.7 Million Tons Of Grain In 2024/25
Ukraine - Russia Attacks Wheat Ship As Ukraine Exports Reach 68 Million Tons
Ukraine - Russia Sold $1 Billion Worth Of Stolen Ukrainian Grain
Ukraine - Zakhidnyi Buh To Build 75,000 Tons Wheat Complex By 2025
Ukraine, Russia - Usda Forecasts Major Decline In Ukraine, Russia Grain Exports

Argentina - Argentine Wheat Exports 800,000 Tons, 20.5M Tons At Risk
Argentina - Wheat Yields Tripled With 310 Mm Water And 10-30 Kg Nitrogen
Brazil - Wheat Market Indicates Rise With Brazil'S 8.1 Million Tons
Brazil - After Climate Disaster, Rio Grande Do Sul Expects 37.1 Million Tons
Canada - Canada'S Wheat Production Up 4.1% To 34.4 Million Tons
Canada - Wheat Stocks Down 18.5% To 4.6 Million Tonnes, Production Up
Mexico - Wheat Producers Face 20% Cost Drop Amid Lack Of Support
Mexico - New Wheat Variety 'Pitahaya M2024' Developed With Rust Resistance
United States - Usda Boosts Maize And Soybean Forecasts Amid Supply Concerns
United States - Wheat Falls 20 Cents To $5.7450, Corn Down 4.25
United States, Brazil - Funds Boost Cbot Grain Shorts Amid U.S. And Brazil Dryness

Azerbaijan - Azerbaijan Wheat Imports Drop 20% In Price, 13% In Quantity
China - China'S Grain Demand Drops 63%, Corn Imports May Fall 11 Million Tons
India - Farmers Demand ₹3,100 Msp For Paddy And ₹2,700 For Wheat
India - Kribhco Launches Bio-Fertilizer At ₹500-550 Per Acre, Wheat Flour
Kyrgyzstan - Wheat Harvesting In Kyrgyzstan Up 56% From Last Year
Turkey - Fertilizer Prices Rise 1,000-1,750 Tl, Grain Prices Up 9,454-11,483 Tl
Turkey - Turkey Aims 3.5 Million Tons Flour Exports, Prices 40% Higher

Egypt - Egypt'S Wheat Reserves Now Cover 6.1 Months With 430,000 Tons
Egypt - Egypt'S Wheat Imports Surge $2.324 Billion In 2024 Total
Zimbabwe - Farmers Celebrate Wheat Prices: Us$450 For Standard, Us$470 Premium

World - Global Wheat Production Reaches Record 797 Million Tons

Italy - Italian Soft Wheat Production Falls 8% To 2.85 Million Tons
Adverse weather conditions in Italy have led to an 8% decline in soft wheat production for 2024, totaling approximately 2.85 million tons. This situation increases reliance on imports, which currently cover 65% of national needs. The FAO forecasts global cereal production at 791.4 million tons, with Egypt launching a record tender for 3.8 million tons of wheat.(Horeca News)

Poland - Flooding In Poland Devastates Crops And Livestock Farms
Flooding in Poland has devastated crops and inundated livestock farms, causing significant agricultural damage. The impact on the farming sector is severe, with many farmers facing substantial losses due to the destruction of their fields and livestock facilities.(AgroPortal.ua)

Poland - Grain Prices Rise By 20-25 Pln, Exports Down Nearly 1 Million Tons
Grain prices in Poland have risen by 20-25 PLN/t, with wheat priced at 850-920 PLN/t and corn at 680-750 PLN/t for dry corn. Wheat exports are significantly down at 346,000 tons compared to 1,095,000 tons last season. The first two months of the 2024/25 season saw overall grain exports drop nearly 1 million tons.(PortalSpożywczy.pl | Tygodnik Poradnik Rolniczy | PortalSpożywczy.pl)

Russia - Russian Wheat Prices Steady At $216, Exports 4.7-5.0 Million
Russian wheat export prices are stable at $216 per metric ton, with September exports estimated between 4.7 to 5.0 million tons. As of September 9, farmers have harvested 92 million tons of grains, including 68.6 million tons of wheat. The Agriculture Ministry forecasts a total grain harvest of 132 million tons for 2024.(Yahoo Finanzas | Русская служба The Moscow Times | XM)

Scotland - Over 80% Of Scots Wheat Harvest Still Uncut
As of September 11, 84% of Scotland's wheat harvest remains uncut, with only 16% completed due to adverse weather, while the UK overall is 95% complete. UK wheat yields are down 8% at 7.42t/ha. The spring barley harvest is 79% complete, and oat harvesting is at 82%, lagging behind last year's pace.(FarmersWeekly)

Spain - Cereal Prices Rise: Soft Wheat €222.06/Ton, Corn €226.35/Ton
Cereal prices in Spanish markets continued their upward trend last week, with soft wheat at €222.06/ton (+2.48%), corn at €226.35/ton (+1.40%), and barley at €204.55/ton (+1.17%). However, a record global harvest is anticipated, and January 2024 prices show declines: soft wheat down 8.28%, corn 2.88%, and hard wheat 24.01%.(EFEAGRO)

UK - Uk Beer Supply Threatened By 20% Wheat Crop Yield Drop
The UK is experiencing a severe wheat supply crisis, with farmers predicting a 20% decrease in yields, the worst since 1983, impacting beer, bread, and cereals. Additionally, bakers anticipate an 18% shortfall, equating to 2.2 million tonnes, leading to increased reliance on imports, which currently comprise 15% of the wheat used by UK flour millers.(Express | British Baker)

Ukraine - Prometey Loses 7 Silos And 2,000 Hectares Amid War
PROMETEY, a major agricultural holding in Ukraine, faces severe challenges due to the ongoing war, losing 7 grain silos and 2,000 hectares of land. With over 1,200 employees, it has closed three out of 28 silos, risking food security. Despite investing 267 million grivnas in infrastructure, lack of government support and climate change threaten its survival.(Agronews Castilla y León)

Ukraine - Ukraine Exports 8.7 Million Tons Of Grain In 2024/25
Ukrainian grain exports for the 2024/25 season reached 8.7 million metric tons as of September 16, up from 5.9 million tons the previous year. This includes 4.8 million tons of wheat, 2.5 million tons of corn, and 1.2 million tons of barley. The government has set a wheat export limit of 16.2 million tons for the season.(Yahoo Finanzas)

Ukraine - Russia Attacks Wheat Ship As Ukraine Exports Reach 68 Million Tons
Russia attacked a civilian wheat ship bound for Egypt outside the grain corridor, with the Ukrainian Navy confirming the incident involved a Kh-22 missile. Over 68 million tons of goods have been exported from Ukraine since the maritime corridor's establishment. The grain corridor remains stable, primarily utilized by China and Spain, as tensions continue.(Українські Національні Новини | Корреспондент | Ukrinform)

Ukraine - Russia Sold $1 Billion Worth Of Stolen Ukrainian Grain
Since 2022, Russia has exported at least 4 million tons of stolen Ukrainian grain, generating around $800 million. The total potential value of this grain is estimated at $6.4 billion. Key markets include Turkey, Lebanon, and Yemen, while Ukrainian authorities monitor suspicious vessels amid reduced imports from occupied regions by Egypt and Israel.(ElitExpert | hvylya.net | 24 Канал | UKR.NET)

Ukraine - Zakhidnyi Buh To Build 75,000 Tons Wheat Complex By 2025
Zakhidnyi Buh PE plans to construct a wheat processing complex in Ukraine, with a capacity exceeding 75,000 tons per year, set to launch in 2025. The facility will include a pasta factory producing around 50,000 tons annually, offering over 50 product varieties. In 2023, the company reported revenue of UAH 86.57 billion, ranking among Ukraine's top 10 agricultural firms.(Ukraine open for business | Odessa Journal | AgroPortal.ua | Ukraine open for business | open4business.com.ua)

Ukraine, Russia - Usda Forecasts Major Decline In Ukraine, Russia Grain Exports
The USDA forecasts significant declines in grain harvests and exports for Ukraine and Russia in 2024/25, according to recent estimates. This indicates a notable reduction in agricultural output for both countries.(top agrar online)

Argentina - Argentine Wheat Exports 800,000 Tons, 20.5M Tons At Risk
Argentine wheat exports have only reached 800,000 tons this year, significantly lower than previous years. Brazil and Indonesia comprise 70% of these exports, but Brazil's self-sufficiency goal may further reduce exports. Additionally, 30% of wheat lots are in poor condition due to lack of rain, risking 20.5 million tons for 2024/25.(infobae | PuntoBiz)

Argentina - Wheat Yields Tripled With 310 Mm Water And 10-30 Kg Nitrogen
Efficient resource use in agriculture is essential, with FRONDA nitrogen fertilizer enhancing crop growth by 10 to 30 Kg per hectare, replacing 1.8 Kg of traditional sources. Additionally, subsurface drip irrigation can triple wheat yields with 310 mm of water in Córdoba, improving nutrient application and reducing weed pressure, despite higher initial costs and maintenance demands.(Infocampo | Diario Núcleo)

Brazil - Wheat Market Indicates Rise With Brazil'S 8.1 Million Tons
According to TF Agroeconômica, following their recommendations last week saved R$ 144/ton in wheat costs, equating to R$ 8.64 per sack for farmers. U.S. wheat prices may rise due to global supply issues, with the USDA noting reduced exportable wheat from the EU. Brazil's wheat production is estimated at 8.1 million tons, leading to higher prices and increased imports.(Agrolink)

Brazil - After Climate Disaster, Rio Grande Do Sul Expects 37.1 Million Tons
The agricultural economy of Rio Grande do Sul is recovering, with grain production expected to reach 37.1 million tons, a 34.5% increase from the previous harvest. Soybean production is estimated at 19.65 million tons, while wheat and corn are projected at 4.19 million and 4.85 million tons, respectively. The state remains the largest rice producer in Brazil, with 7.16 million tons expected.(Brasil de Fato)

Canada - Canada'S Wheat Production Up 4.1% To 34.4 Million Tons
Canada's wheat production is projected to reach 34.4 million metric tons in 2024, up 4.1%. Soybean production is expected to rise 3.1% to 7.2 million tons, while canola will decrease by 1.1% to 19.0 million tons. Corn for grain is forecasted to fall 1.6% to 15.2 million tons, with final estimates due on December 5.(Notícias Agrícolas | Investing.com Brasil | Marketscreener.com)

Canada - Wheat Stocks Down 18.5% To 4.6 Million Tonnes, Production Up
Wheat stocks in Canada decreased by 18.5% to 4.6 million tonnes as of July 31, 2024. Dry peas fell by 36.7% to 348 thousand tonnes, while barley stocks rose 72.6% to 1.2 million tonnes. Additionally, wheat and soybean production is expected to increase this year, but canola output is projected to decline.(620 CKRM.com | MarketWatch)

Mexico - Wheat Producers Face 20% Cost Drop Amid Lack Of Support
Wheat producers in Mexicali are facing low production costs, reduced from over 41,500 pesos per hectare last year to around 33,000 in 2024. Government Secretary Alfredo Álvarez announced no support will be provided this year. Producers await a meeting with the governor to discuss the distribution of last year's 200 pesos aid, as rising flour prices leave them with no profits.(La Voz de la Frontera)

Mexico - New Wheat Variety 'Pitahaya M2024' Developed With Rust Resistance
A new wheat variety named 'Pitahaya M2024' has been developed by researcher Alberto Borbón Gracia at Inifap. This variety shows strong resistance to rust, a significant issue for wheat. It offers farmers in southern Sonora another option alongside the high-yielding Roely variety. Despite budget constraints, agricultural research will continue to adapt to evolving challenges.(Medios Obson)

United States - Usda Boosts Maize And Soybean Forecasts Amid Supply Concerns
In the U.S., maize and soybean harvests begin as the USDA unexpectedly increases production forecasts. The market is focused on the upcoming South American campaign amid low humidity. Meanwhile, China continues purchasing soybeans, while potential maize supply issues arise in the Black Sea due to reduced production and Russian attacks. Despite price increases, stock levels remain high, limiting further gains.(Agrofy News)

United States - Wheat Falls 20 Cents To $5.7450, Corn Down 4.25
Wheat futures in Chicago fell to $5.7450 per bushel on September 16, down 20 cents, amid profit-taking and expectations of a large U.S. harvest. Corn dropped 4.25 cents to $4.09, and soybeans lost 2 cents to $10.04. Similar declines were noted in other reports, with wheat experiencing significant fluctuations due to global supply concerns.(LA NACION | ZAWYA | BNN Bloomberg | XM | Finance News: Latest Financial News | Finance News today in Bangladesh)

United States, Brazil - Funds Boost Cbot Grain Shorts Amid U.S. And Brazil Dryness
Funds increased their short positions in Chicago Board of Trade (CBOT) grains due to ongoing dryness affecting crops in the U.S. and Brazil. This shift reflects concerns over reduced yields, with significant implications for market dynamics and pricing.(Reuters)

Azerbaijan - Azerbaijan Wheat Imports Drop 20% In Price, 13% In Quantity
In January-August 2024, Azerbaijan imported 579,927 tons of wheat worth $128.36 million, marking a 13% decrease in quantity and a 30% decline in value compared to the same period in 2023. The average price per ton fell by $54, or 20%, from $275 to $221.(Azerbaijan Business Center)

China - China'S Grain Demand Drops 63%, Corn Imports May Fall 11 Million Tons
China's economic crisis is leading to a significant drop in grain demand, with U.S. corn sales falling 63% to 13,400 tons in the 2023-24 season. Wheat imports may decrease to 7-9 million tons, while corn imports for 2024-25 could decline to 9-11 million tons, affecting global exporters and farmers.(Bloomberg Línea Latinoamérica | Investnews)

India - Farmers Demand ₹3,100 Msp For Paddy And ₹2,700 For Wheat
Farmers in Madhya Pradesh are demanding a minimum support price (MSP) of ₹3,100 per quintal for paddy and ₹2,700 for wheat, alleging the government has not fulfilled election promises. Protests continue over soybean MSP, with the government proposing ₹4,800. Farmers also report unexpected increases in electricity connection capacities affecting 50,000 farmers, raising concerns about government intentions.(ETV Bharat)

India - Kribhco Launches Bio-Fertilizer At ₹500-550 Per Acre, Wheat Flour
KRIBHCO has launched the bio-fertilizer KRIBHCO Rhizosuper, priced at ₹500-550 per acre, in partnership with Novonesis, targeting improved winter crop yields. The company aims for an annual production of 20,000 tons to raise bio-fertilizer awareness in India. Meanwhile, wheat flour prices have risen 20% to ₹2800 per quintal due to supply issues, prompting government interventions on stock limits.(Zee Business हिंदी | Kisan Tak)

Kyrgyzstan - Wheat Harvesting In Kyrgyzstan Up 56% From Last Year
Wheat harvesting in Kyrgyzstan is nearly complete, with the total yield 56% higher than last year.(АПК-Информ On-Line)

Turkey - Fertilizer Prices Rise 1,000-1,750 Tl, Grain Prices Up 9,454-11,483 Tl
Fertilizer prices have significantly increased this year, impacting agricultural production costs. Current prices include 50 KG DAP fertilizer ranging from 1,500 to 1,750 TL and urea fertilizer from 1,000 to 1,400 TL. Grain prices also rose, with durum wheat between 9,454 and 11,483 TL. Factors include international market changes and rising production costs.(Haber Gazetesi)

Turkey - Turkey Aims 3.5 Million Tons Flour Exports, Prices 40% Higher
Turkey aims to export 3.5 million tons of flour by the end of 2024, down from an initial target of 4 million due to a wheat import ban. Wheat prices are 35-40% higher than global rates, impacting competitiveness. The ban is expected to lift on October 15, 2023, with a wheat harvest projected at 20 million tons.(Haber Ekspres | Ekonomim | Gazete Banka)

Egypt - Egypt'S Wheat Reserves Now Cover 6.1 Months With 430,000 Tons
Egypt's strategic wheat reserves now cover 6.1 months, according to Minister Sherif Farouk. The General Authority for Supply Commodities secured 430,000 tons of Russian wheat at $235 per ton to support the subsidized bread program and maintain essential goods stocks.(ZAWYA)

Egypt - Egypt'S Wheat Imports Surge $2.324 Billion In 2024 Total
Egypt's wheat imports surged to $2.324 billion in H1 2024, up $539 million from 2023. Total raw material imports reached $5.621 billion, a $397 million increase. Despite this, June saw a 21.5% drop in wheat imports to $261 million. Additionally, wheat imports rose 40% to 10.1 million tons, supported by lower global prices.(The North Africa Post | Egypt Today | Egypt Today | ZAWYA)

Zimbabwe - Farmers Celebrate Wheat Prices: Us$450 For Standard, Us$470 Premium
Farmers are pleased with the new wheat producer prices of US$450 per tonne for standard grade and US$470 for premium grade, payable only in US dollars. Last season, the price was US$440 per tonne, with a 75% US dollar payment. GMB CEO Edson Badarai noted that the new prices aim to enhance production and productivity.(pindula.co.zw)

World - Global Wheat Production Reaches Record 797 Million Tons
Global grain prices increased last week, with wheat on CBoT rising by 4.9% and projected global wheat production reaching a record 797 million tons for 2024/25. European exporters face reduced harvests due to warm, dry weather. Additionally, gold prices rose 25% this year, while gasoline and diesel futures hit lows since February 2021.(Farmer.pl | Bloomberg Línea Latinoamérica)